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Nicaragua signs a new offshore oil exploration deal

MANAGUA, March 5 - Nicaragua signed a contract with U.S. company Infinity Energy Resources on Thursday to explore for oil off the country's Caribbean coast after overcoming legal objections from regional indigenous groups. The Texas-based company will invest $30 million in ...

Swiss' Clariant eyes China growth

Swiss specialty chemicals producer Clariant expects its sales in China this year to grow by around 30 percent from 2009, the company's chief executive said on Wednesday. The Chinese market, which now accounts for approximately 8 percent of Clariant's global business, has become ...

Rosneft Q4 net falls on low oil price, sees recovery

MOSCOW, March 4 - Rosneft Russia's largest oil firm, expects the rouble devaluation and lower export duties to help profits recover from a 64 percent slump in last year's fourth quarter, one of the toughest on record. Rosneft said on Wednesday fourth-quarter net profit fell to ...

Government postpones refined oil price increase

The government has decided to delay an increase in refined oil prices amid rising international crude rates after a surprise move by the central bank to raise interest rates last week. "The National Development and Reform Commission should have increased domestic refined oil ...

China invites tenders for first solar thermal power project

China's first solar thermal power plant began soliciting tenders on Wednesday as the country's efforts to diversify its clean energy sources gathered pace. The 50 megawatt solar thermal power plant will rise on uninhabited land of more than 100 hectares in Hangjinqi in north ...

EU worried by Russian threat to cut Ukraine gas

BRUSSELS - The European Union said on Thursday it was concerned about Russia's warning that it could again halt gas deliveries to Ukraine -- and possibly to Europe -- over a payment dispute. European Commission President Jose Manuel Barroso said the 27-nation EU's relations with ...

Nigeria Bonny oil output back up near 200,000 bpd

ABUJA, March 5 - Output at Nigeria's Bonny Light crude terminal, operated by Royal Dutch Shell has ramped up to around 200,000 barrels per day, a senior official of state-run NNPC said on Thursday. Production was cut to around 90,000 bpd three weeks ago because of security ...

USO roll shift may ease oil spread volatility

NEW YORK - The move by United States Oil Fund USO.P to extend the monthly period when it shifts its crude futures position to four days from one could reduce price volatility associated with the transition. The giant exchange traded fund currently holds over 18 percent of the ...

Low oil could stall auto efficiency drive-firm

WASHINGTON, March 5 - Falling oil prices could hurt investment in fuel efficient vehicles and capital projects designed to promote energy saving technologies, an automotive research firm warned on Thursday. CSM Worldwide told the Environmental Protection Agency that some ...

Gas Natural share trading suspended - bourse

MADRID, March 10 - Share trading in Spanish gas company Gas Natural has been suspended, stock market regulator CNMV said in a statement on Tuesday. Gas Natural is holding a board meeting on Tuesday, followed by an extraordinary shareholders' meeting at which it is expected to ...

Saudi to keep Asia oil supply steady ahead of OPEC

TOKYO - Saudi Arabia surprised its Asian oil customers on Tuesday by telling them it would maintain or slightly increase crude supplies next month, another sign that OPEC's most influential member will urge the cartel to refrain from further output cuts when it meets this weekend...

Fertiliser firms await revised Reliance gas draft

MUMBAI, March 10 - Indian fertiliser firms have objected to conditions such as payment in dollars for gas supplies from Reliance Industries's east coast fields, but hope to resolve the issues, a lobby group said on Tuesday. "We are keen to sign the deal. It is good for our ...

U.S. EIA poised to cut global oil use outlook again

WASHINGTON - With the global economy getting stuck deeper in the mud, U.S. Energy Department's forecasting arm will probably again cut its estimate of world oil demand for this year, experts say. When the department's Energy Information Administration releases its monthly short...

Alaska drilling ruling vacated, future uncertain

ANCHORAGE, Alaska - An appeals court has vacated a decision that blocked Shell Oil's planned exploratory drilling program in the Beaufort Sea, but representatives of the company and the environmental and Native groups challenging the development said Monday they had no indication ...

China says U.S. naval ship broke the law

BEIJING - China said on Tuesday that a U.S. Navy ship involved in a confrontation with its fleet off the southern island of Hainan had violated international and Chinese laws. Washington had urged China to observe international maritime rules after the Pentagon said five Chinese ...

Oil jumps 3 percent on U.S.-China tensions, OPEC

NEW YORK - Oil jumped more than 3 percent to $47 a barrel on Monday as a naval incident between the United States and China, the world's top oil consumers, boosted geopolitical tensions and as dealers pondered the possibility of deeper production cuts by OPEC. The U.S. State ...

China oil reserve full, sea storage needed - shipper

BEIJING, March 9 - China has filled its first 100 million barrels of onshore emergency crude oil tanks and the government should use some of its foreign exchange reserves on floating storage, an industry executive said on Monday. The rare acknowledgement of China's strategic oil ...

In Japan, caution on hedging against oil rebound

TOKYO, March 8 - Japanese oil consumers, shocked in recent months by a price collapse and a deepening recession, are again starting to cautiously insure themselves against the risk of an oil price rebound, although deep uncertainties about the outlook continue to stymie hedging ...

Schlumberger wins $687 mln Mexico oil drilling deal

MEXICO CITY, March 11 - Mexico's state oil company Pemex said on Wednesday it awarded a $687 million oil well drilling contract to a consortium led by oil services giant Schlumberger. The Schlumberger-led group is to begin drilling 500 wells in the Chicontepec field in April. The ...

U.S. crude oil stocks up, gasoline off sharply

NEW YORK - U.S. crude oil stocks rose last week as imports increased and demand from refiners fell, while gasoline posted a big decline as demand rose, Energy Information Administration weekly data showed on Wednesday. Total commercial crude oil inventories gained 700,000 barrels ...

Latest World News

china

Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...
China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
BEIJING, Jan. 22 (Xinhua) -- Policies of China's new leadership in the ...
Merck to put $1.5b in R&D
Merck to put $1.5b in R&D
Merck Sharp & Dohme (MSD), the world's second-largest drug producer by ...

world

market

IMF chief warns of risks to recovery
IMF chief warns of risks to recovery
DAVOS, Switzerland, Jan. 25 (Xinhua) -- The International Monetary ...
China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
The Number One Document also proposed a new pricing plan for China's ...
Chinese investors look to overseas opportunities
Chinese investors look to overseas opportunities
SHANGHAI, Jan. 25 (Xinhua) -- China, the world's top manufacturer and ...

finance

company

Retailer's Net Profit Falls 3%
Retailer's Net Profit Falls 3%
A Wal-Mart store is seen in Stratford, Connecticut, the United States. ...
Gaming Firms Find Going Tough
Gaming Firms Find Going Tough
Employees demonstrate Sony Ericsson Mobile Communications' Xperia Play ...
Boeing Wins Biggest Order of US$26b
Boeing Wins Biggest Order of US$26b
A formation of nine Royal Air Force Red Arrows Hawk aircraft fly ...

trade

sports

Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Lucrative golf industry lures stiff competition
Lucrative golf industry lures stiff competition
Two models stand beside golf equipment and bags at a recent golf ...
Li Na wins French Open women's singles title
Li Na wins French Open women's singles title
History-making tennis legend Li Na notched the first-ever grand slam ...
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